According to PANews, DBS Bank, a multinational banking and financial services corporation, has partnered with digital payment provider Ant International to introduce a new blockchain-based funds and liquidity management solution. DBS Bank announced the pilot launch of the DBS Treasury Tokens project, which Ant International will use for instant multi-currency funds and liquidity management. The new DBS Treasury Tokens will exist on DBS Bank's permissioned blockchain and will be available for use by Ant International's entities across multiple markets.
DBS Bank explained that its permissioned blockchain is compatible with the Ethereum Virtual Machine (EVM) and integrated with the bank's core payment engine. This development enhances the system's scalability and interoperability with various industry payment infrastructures connected to DBS Bank. The bank also noted that the blockchain has been integrated with Ant International's funds management platform, Whale. This integration allows the company to manage its internal liquidity seamlessly, which DBS Bank believes can optimize workflows and visibility. In addition to blockchain technology, Ant Financial's Whale platform leverages artificial intelligence and encryption technology to improve the transparency and efficiency of fund transfers between bank accounts.